Public Employees Retirement Association of Colorado raised its stake in Michaels Companies Inc (NASDAQ:MIK) by 376.2% during the fourth quarter, Holdings Channel reports. The fund owned 17,320 shares of the specialty retailer’s stock after buying an additional 13,683 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Michaels Companies were worth $419,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aperio Group LLC boosted its position in shares of Michaels Companies by 208.5% during the fourth quarter. Aperio Group LLC now owns 198,252 shares of the specialty retailer’s stock valued at $4,796,000 after buying an additional 133,989 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Michaels Companies during the fourth quarter valued at $464,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of Michaels Companies during the fourth quarter valued at $461,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Michaels Companies by 40.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,792 shares of the specialty retailer’s stock valued at $188,000 after buying an additional 2,236 shares during the last quarter. Finally, APG Asset Management N.V. boosted its position in shares of Michaels Companies by 1,088.0% during the fourth quarter. APG Asset Management N.V. now owns 1,212,900 shares of the specialty retailer’s stock valued at $24,434,000 after buying an additional 1,110,800 shares during the last quarter.
Michaels Companies Inc (NASDAQ MIK) opened at $24.58 on Monday. The stock has a market capitalization of $4,455.10, a PE ratio of 12.48, a price-to-earnings-growth ratio of 0.80 and a beta of 0.99. The company has a debt-to-equity ratio of -1.56, a current ratio of 1.39 and a quick ratio of 0.25. Michaels Companies Inc has a 12-month low of $17.25 and a 12-month high of $27.87.
Michaels Companies (NASDAQ:MIK) last announced its earnings results on Thursday, November 30th. The specialty retailer reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Michaels Companies had a negative return on equity of 22.16% and a net margin of 7.33%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period last year, the firm posted $0.40 earnings per share. equities analysts anticipate that Michaels Companies Inc will post 2.18 EPS for the current fiscal year.
In other Michaels Companies news, CEO Carl Rubin sold 220,930 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $27.15, for a total value of $5,998,249.50. Following the transaction, the chief executive officer now directly owns 444,796 shares of the company’s stock, valued at $12,076,211.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.
Several research firms recently commented on MIK. Telsey Advisory Group raised Michaels Companies from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $23.00 to $32.00 in a research report on Thursday, January 25th. BidaskClub raised Michaels Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, January 24th. Zacks Investment Research raised Michaels Companies from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Saturday, February 3rd. Goldman Sachs Group raised Michaels Companies from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 16th. Finally, ValuEngine cut Michaels Companies from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $26.00.
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Michaels Companies Company Profile
The Michaels Companies, Inc (Michaels) is an arts and crafts specialty retailer in North America. The Company’s segments include Michaels-U.S., Michaels-Canada, Aaron Brothers, Pat Catan’s and Darice. As of January 28, 2017, the Company operated 1,223 Michaels retail stores in 49 states and Canada, with approximately 18,000 average square feet of selling space per store.
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